Thetford Facility, Brookfields Park, Rotherham, S63 5DLMake an enquiry
Nottingham City Council, represented by FSP, have recently completed the acquisition of a well let industrial investment.
The property is located on the established Brookfields Way Industrial Estate, close to the M1, A1(M) and M18 motorways.
Nearby occupiers include Capita, Garnett Dickinson, Cepac and Next. The property is only 7miles from the M1 at Junction 36 and the M18 at Junction 1.
The property comprises a 2011 purpose built industrial unit extending to 82,942 sq ft with 9m eaves, a 36m yard depth and 123 car parking spaces. The unit is let to the secure covenant of Thetford Limited for a term of 17 years expiring in December 2028 providing an unexpired term over 10 years. Let off a passing rent of £464,800 (£5.60 per sq ft) the property benefits from two further fixed increases taking the rent to £595,100 (£7.17 per sq ft) in December 2026.
Nottingham City Council purchased the investment for a price of £7.875m, a net initial yield of 5.53%, with reversion to 7.08% in 2026. The investment provides long term secure income for the council with in-built rental growth allowing increasing performance throughout the lease.
The property was sold by Knight Frank London on behalf of Tritax.